According to Mobility Global, sales of gasoline-powered vehicles fell by 10% year-on-year in the first half of 2026, totaling 20.25 million units. Their market share dropped by 3 percentage points to 49%, marking the first time these vehicles have accounted for less than half of global new car sales.
The shift is driven by rising oil and fuel prices following the crisis in the Strait of Hormuz. Consumers in Europe, South America, and the Asia-Pacific region are increasingly opting for electric vehicles and hybrids. In China, the combined market share of electric and hybrid vehicles has reached approximately 55%.
Europe shows significant growth in electric vehicle adoption. In August, sales of fully electric cars in the EU, UK, Switzerland, and Norway rose by 52.2% year-on-year. Germany saw a 75% increase in electric vehicle sales, supported by a government subsidy introduced in January 2026 and record fuel prices of €2.31 per liter.
France reported that sales of electric vehicles more than doubled during the same period. These regional trends highlight a broader global transition away from traditional internal combustion engine vehicles as economic factors accelerate the adoption of alternative powertrains.
